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Trump’s Economy Adds Quarter-Million Jobs, Smashes Expert Estimates

The figures rebounded from May proving economists wrong

 on 5th July 2019 @ 8.00pm
as wages continue to grow at a 3 1  rate annually  the labor market looks healthy as 17 000 manufacturing jobs created © press
As wages continue to grow at a 3.1% rate annually, the labor market looks healthy as 17,000 manufacturing jobs created.

Presdient Donald Trump's economy continues to show a dramatic uptick as a total of nonfarm employment increased by a staggering 224,000 jobs in June. 

The figures rebounded from May, which had economists predicting the longest bull market in history has an ending.

The June jobs report revealed nearly quarter-million jobs created in June passing expert estimates which predicted between 160,000 to 165,500 range.

The jobs reports come a day after the Fourth of July and two after the stock market closed at record highs.

the most significant job gains came from the professional sector as 51 000 jobs created © press
The most significant job gains came from the professional sector as 51,000 jobs created.

[RELATED] Joe Biden Slams Trump's Job Growth, Demands 'Moral' Economy

According to CNS news:

The unemployment rate, the lowest in 50 years, ticked up a tenth of a point to 3.7 percent.

In June, the nation’s civilian noninstitutionalized population, consisting of all people age 16 or older who were not in the military or an institution, reached 259,037,000. Of those, 162,981,000 participated in the labor force by either holding a job or actively seeking one.

As wages continue to grow at a 3.1% rate annually, the labor market looks healthy as 17,000 manufacturing jobs created.

The most significant job gains came from the professional sector as 51,000 jobs created.

Healthcare saw 35,000 jobs created.

Unemployment levels increased very slightly from the lowest level in fifty years, from 3.6% to 3.7%.

The black unemployment rate fell again to 6.0%, the lowest in recorded history, with a 5.8% unemployment rate.

the black unemployment rate fell again to 6 0   the lowest in recorded history  with a 5 8  unemployment rate © press
The black unemployment rate fell again to 6.0%, the lowest in recorded history, with a 5.8% unemployment rate.

According to The Washington Examiner: The workweek remained unchanged, and June's inflation rate fell from 2.1% in May to 1.9%, meaning that workers shorted by the slow recovery of the Great Recession are continuing to see real wage growth.

From an investor's perspective, the jobs report would have been as much a win had it demonstrated weak employment growth.

That would have increased the odds the Fed would slash interest rates.

When the inevitable recession arrives, lower interest will put the Fed in the unique position of having negligible ability to loosen the money supply.

So it benefits Americans tomorrow for the Fed to maintain interest rates today.

Although naysayers and monetary doves may point towards wage increase slowing from earlier this year and unemployment ticking up by a 0.1 percentage point, the June jobs report ought to spark some confidence in the economy on two fronts.

First, reducing wage growth may indicate that the economy isn't overheated, and thus, our real economic growth continues apace.

And second, our unemployment rate likely rose because our historically low labor force participation rate ticked up from 62.8% to 62.9%, meaning that more Americans are looking for jobs rather than remaining on the sidelines of our labor market.

This jobs report likely means that the Fed won't immediately cut interest rates, nor should they.

Our economy continues to beat the historical odds of a recession, but when the day comes that it crashes, the Fed would be wise to retain its capacity to cushion the blow.

[RELATED] 2020 Democrats Vow to ‘Fix’ Trump’s Booming Economy

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tags: Donald Trump | Jobs

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